Cannaccord analysisJust got this from my broker:
Santa Catalina SLM 1,131,040 .87 -.03 Reached target depth
on initial Algerian oil well. Will have crucial drill log data this week
that could show continuous structure along 10 km to discovery well of 2,000
boepd. SLM 12.5% (65M shs), CVL 5% (43M shs), ESX 5% (27M shs). While we
have estimated a potential value for such a discovery ranging from $0.50 to
$3/bbl, a benchmark value of US$1/bbl is in line with a 15% NPV of developed
reserves for other co.'s. This would yield a potential value of $5/sh.